CBPE Capital LLP (CBPE) has announced it is making a major investment in Perspective Financial Group Limited (Perspective), following approval from the FCA.
Perspective is a nationwide financial planning and wealth advisory business which operates from 15 offices across the UK employing 180 staff, including 55 highly qualified advisers. It provides impartial, specialist advice for individuals, corporates and trustees on pensions, retirement planning, inheritance tax planning, investments and group risk and business protection matters, often working closely with other professional advisers such as accountants and lawyers.
The group differentiates itself by having a strong and ethical client-centric culture, a robust compliance approach and a clear focus on developing its pipeline of younger adviser talent through its workplace based in-house Training Academy. Perspective’s average adviser age is currently ten years below the industry average.
Perspective has a turnover of £17 million, with £2.8 billion of assets under management. It offers ‘whole of market’ advice, meaning its advice it not limited to certain providers. It advises over 18,000 clients from those of moderate means to ultra-high net worth individuals. Its corporate clients include SMEs and larger companies. Perspective fully embraces the use of modern digital technology and administrative platforms. It works in partnership with Cambridge Investments Ltd, also part of Perspective, which provides investment management advice to its wealthy advisory clients, including a range of discretionary managed portfolios for given levels of risk.
CBPE is partnering with Perspective’s management who are all re-investing in the business. Together they aim to accelerate Perspective’s expansion, combining continued organic growth with further acquisitions in the assistance of Gunner & Co., in what remains a highly fragmented market.
Since it was founded in 2008, Perspective has acquired 35 IFA businesses, including four in 2019, opening up new locations and growing existing offices. The group has gained a reputation for being the consolidator of choice for IFAs looking to retire and exit the industry in a sector which continues to be impacted by increasing regulatory and capital burdens.
This investment in Perspective continues CBPE’s successful track record of investing in the financial services industry where it has helped businesses develop into sector leaders. This includes the IPOs of JTC (global administration provider) in 2018 and Xafinity (UK corporate pensions consultancy) in 2017. CBPE’s current portfolio includes investments in Compre (run-off insurance) and Xceptor (technology for financial services).
Ian Wilkinson, Group Managing Director, Perspective said: “CBPE is the right partner for us as we enter the next stage of our development. They have a proven track record in the financial services space and have helped build some great companies. In CBPE we have found a partner that will help us accelerate our growth strategy. We are excited about working together to expand the business and continuing to deliver a quality service to current and new clients”.
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